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GASCO cancels gas extension investment plan with Omani firm

GASCO cancels gas extension investment plan with Omani firm
The decision will have no financial impact on the company’s results
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2081.B
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National Gas
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Riyadh – Mubasher: National Gas and Industrialization Company (GASCO), listed on the Saudi Stock Exchange (Tadawul), announced that its board of directors decided not to proceed with plans with Oman-based National Gas to invest in a new gas extension company.

The decision will have no financial impact on the company’s results, GASCO said in a bourse filing on Sunday.

In March 2018, the two companies signed a non-binding memorandum of understanding (MoU) to conduct a feasibility study to set up a new gas extension company.